Investors Purchase High Volume of Put Options on Endava (NYSE:DAVA)

Endava PLC Sponsored ADR (NYSE:DAVA) was the target of unusually large options trading on Tuesday. Stock investors acquired 8,028 put options on the stock. This is an increase of approximately 1,420% compared to the average volume of 528 put options.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DAVA shares. Cowen reissued a “hold” rating on shares of Endava in a report on Friday, September 5th. Wall Street Zen lowered shares of Endava from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Endava in a research note on Thursday, July 17th. They issued a “hold” rating and a $14.00 price objective for the company. Morgan Stanley reduced their target price on Endava from $17.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Endava in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.00.

Institutional Investors Weigh In On Endava

Large investors have recently bought and sold shares of the stock. Prescott Group Capital Management L.L.C. boosted its stake in shares of Endava by 107.8% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 607,139 shares of the company’s stock worth $9,301,000 after purchasing an additional 315,000 shares during the last quarter. M&T Bank Corp boosted its position in Endava by 182.3% during the first quarter. M&T Bank Corp now owns 39,499 shares of the company’s stock worth $770,000 after acquiring an additional 25,506 shares during the last quarter. Trexquant Investment LP acquired a new stake in Endava during the first quarter worth approximately $764,000. Ruffer LLP grew its stake in Endava by 60.5% in the 2nd quarter. Ruffer LLP now owns 209,187 shares of the company’s stock worth $3,205,000 after acquiring an additional 78,870 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in Endava by 15.4% in the 1st quarter. Raymond James Financial Inc. now owns 548,963 shares of the company’s stock valued at $10,710,000 after acquiring an additional 73,300 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.

Endava Stock Performance

DAVA traded down $2.38 during trading on Tuesday, reaching $7.06. The company’s stock had a trading volume of 2,082,595 shares, compared to its average volume of 837,542. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 2.32. The company’s fifty day moving average price is $9.39 and its 200-day moving average price is $13.06. Endava has a 52-week low of $6.77 and a 52-week high of $34.94. The company has a market capitalization of $396.56 million, a price-to-earnings ratio of 15.55 and a beta of 1.18.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in North America, Europe, the United Kingdom, and internationally. It offers ideation and production services in the payments and financial services, telecommunications, media, and technology verticals; and business analysis, data analytics, program management, digital product strategy, private equity value enhancement, IT strategy, architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.